Until the end of 2017 employers and pension providers were required to include with taxable pay all taxable Illness Benefit and Occupational Injury Benefit payments paid to employees by the Department of Employment Affairs and Social Protection (DEASP).

With effect from 1st January 2018, it is no longer the case. Now Revenue incorporates the taxable element of Illness or Occupational Injury Benefit into employees’ tax credit certificates. This has the effect of reducing Read more

Posted on January 8, 2018 by Mary Flanagan

Effective from 1st June 2017, Companies Registration Office (CRO) are changing the method by which they will accept submissions of certain documents submitted to the public record. From that date, mandatory electronic filing will apply to the following submissions to be made to the CRO:-

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Posted on May 10, 2017 by Cooney Carey

Directors of companies should ensure that they are aware of the increased disclosure requirements in relation to their remuneration under Companies Act 2014.

Section 305 of Companies Act 2014 covers the disclosure of directors’ remuneration with Section 306 providing some supplemental provisions to Section 305. A considerable change under the new Act relates to group’s. Section 305 requires that company accounts disclosure not only the remuneration received by the director in that company, but also remuneration paid by or receivable from:

The company’s subsidiary undertakings,

Any holding undertaking of the company, and

Any other person

This will increase substantially the disclosure requirements on many group companies.

For smaller entities that are availing of the exemptions to file abridged accounts with the Companies Registration Office, there is now a requirement to include directors’ remuneration in these abridged accounts. Under the old Companies Act this information was not required to be disclosed in the abridged accounts. As the accounts will become publically available once filed with CRO this will be an unwelcomed change for many directors of smaller entities.

Directors should ensure that they review these requirements with their auditors/accountants before filing their next set of accounts with CRO.